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You can work your ass off to earn money but youll never get anywhere until you start making passive income. I make money on seven different income sources but a number of them take a lot of work.
Passive income is money you make from a product or an investment where you dont have to do any more work once you set it up. That means consistent cash flow every month if youre working or not.
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Thats the only true way to financial freedom. Passive income is the only way that you will be free of worrying about money and the only way that you will ever achieve financial independence.
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Im going to start with the easy passive income ideas, the ones which you can begin making money on instantly and will work through into the ones youll make the most money on as we proceed through the listing so be sure to stick around to grab those last few passive income plans. .
Swagbucks is a get-paid-to website so that you get paid to do things such as take polls, play video games, watch movies and test out free product samples. Doing all these, you earn points that are usually convertible to one hundred points for a dollar.
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Now this isnt something thats going to make you rich but you can earn some legit money for less than an hour of the time. Swagbucks consumers have redeemed over $344 million in benefits for gift cards and Amazon rewards.
Now Ive been using Swagbucks for a little while and have found that the money works out to just under $2 an hour this isnt something thats going to make you wealthy. Youd need to operate 2,500 hours to make $5,000 so thats approximately three and a half months, non-stop. The thing with Swagbucks however is that you can take action when youre doing something else I flip through polls and other things whilst Im cooking dinner or even flipping channels. .
Swagbucks is offering a $5 cash bonus just for signing up by using their distinctive offer so web sign up here to snag your bonus money.
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TopCashBack is an online see post shopping cash back site where you get a percentage discount on anything you buy online. What you do is start in the TopCashBack site then click through one of the 4,000 retailers using a money back program.
All these are everything from Nike to Home Depot and you also get from 3 percent to 25% cash back on anything you purchase. Youre still shopping right on the merchants website so that you receive the rest of the discounts and bargains they offer, you just get an extra bonus for going via the TopCashBack web site . .
TopCashBack is somewhat better with the ordinary cash back around 6% of your purchase so in the event that you spend $1,000 online youre going to get $60 back. Again, not something thats going to make you rich as you need to buy stuff to get the money back but its completely free money on the things you were going to buy anyway. .
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Our next passive income notion is blogging. Im not a huge fan of the term blogger because it sounds like youre only writing random notes on a site. In reality, owning your own piece of electronic property is big money.
I started my own websites in December 2014 and broke $5,000 per month just two decades later. I averaged $5,500 through 2017 and thats my company not including side holiday work I did freelancing.
Blogging is going to require work starting out. That path to $5,000 per month didnt happen overnight but only like real estate development, it build an asset that now generates constant cash flow if I work or not. I receive over 30,000 visitors a month from Google search rankings, rankings that will continue to send visitors even when I take a little time off. .